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Palatin Technologies, Inc. will implement a 1-for-50 reverse stock split approved by shareholders and the board, expected to become effective after market on August 11, 2025, with shares trading on a split-adjusted basis on the OTCQB at market open on August 12, 2025. The company was previously determined not suitable for NYSE American listing due to a low selling price; trading was suspended May 7, 2025, and the stock has since traded on OTC Pink and then OTCQB under the symbol PTNT. The timing change reflects a delayed FINRA approval now expected after market on August 11, 2025.
Palatin Technologies completed a 1-for-50 reverse stock split approved by shareholders, effective August 8, 2025 at 5:00 p.m. ET. The action combines every 50 shares into one share while leaving the par value and other terms unchanged. Shares are expected to trade on the OTCQB on a split-adjusted basis beginning August 11, 2025 and will use the temporary ticker PTNTD for 20 trading days.
The company disclosed that NYSE American determined the common stock was no longer suitable for listing due to a low selling price and commenced delisting proceedings, with trading suspended on May 7, 2025. The stock traded on the Pink Market May 8–June 6, 2025 and has traded on the OTCQB since June 9, 2025. Fractional shares will be paid in cash based on the five-day average closing price prior to August 8, 2025.